Qatar Chamber joins 2nd Gulf-Azerbaijani Economic Forum

Qatar Chamber recently took part in the second edition of the Gulf-Azerbaijani Economic Forum, held in Baku under the theme ‘Sustainability Investments Partnerships’.

The chamber’s delegation included board members Ali bin Abdullatif al-Misnad and Shaheen bin Mohamed al-Mohannadi, with the participation of several Qatari businessmen.

The forum featured discussions on renewable energy, water, and electricity, transportation, and logistics, as well as strategic partnerships between the GCC and Azerbaijan in agriculture, food security, and food industries.

Addressing a panel on the transport and logistics sector, al-Misnad, who is also the chairman of chamber’s Services Committee and the Qatar Association for Freight Forwarding and Logistics (QAFL), said Qatar’s strategic location makes it in the centre of East and West between three continents, namely Africa, Asia, and Europe.

Elaborating on Qatar’s advancement in the logistics sector, he explained that the country is home to the “world’s leading air cargo company,” Qatar Airways Cargo, the “best airline,” Qatar Airways, the “second-best airport,” Hamad International Airport, and the “eighth-largest port.” Hamad Port, globally.

Al-Misnad said the country's investment in this sector is reflected in the volume of the transportation market, which reached $9.9bn, positioning Qatar as the “second-best in the region” in terms of logistics efficiency.

Citing the World Bank Logistics Performance Index 2023, al-Misnad said Qatar ranked “14th globally in logistics efficiency,” “19th in infrastructure quality,” and “36th in the overall index,” which includes 139 countries, outperforming 103 nations worldwide.

“Qatar has become a leading global centre for investment and business, as well as a hub for global trade and logistics,” he said, adding that the chamber is committed to enhancing supply chains and logistic services and encouraging investors to invest in this vital sector.

Due to its relentless efforts in this regard, the chamber recently was elected as a member of the International Federation of Freight Forwarders Associations (FIATA), the world’s largest organisation for freight forwarders, during the FIATA World Conference held in Brussels.

Underscoring the importance of logistics market, al-Misnad said the global logistics market amounted to $8.96tn in 2023 and is expected to reach around $21.91tn by 2033, indicating a Compound Annual Growth Rate (CAGR) of 9.35% from 2024 to 2033.

“Land transport accounts for the largest share of the logistics market, followed by sea and air transport,” he said.